Bill Clinton, once seen as a progressive leader, is now criticized for betraying progressives and capitulating to right-wing policies during his presidency. Historian Nelson Lichtenstein argues that Clinton's initial promise of transformative policies gave way to a shift towards neoliberalism and deregulation. Lichtenstein's book, 'A Fabulous Failure: The Clinton Presidency and the Transformation of American Capitalism,' explores how Clinton's welfare state liberalism clashed with policies that prioritized capital mobility and deregulation. Clinton's health insurance reform faced opposition from low-wage service sector firms and big insurers who opposed price controls. The Clinton administration relied on Republican votes to overhaul welfare, liberalize trade, and deregulate industries. The economic boom during Clinton's presidency eventually ended with asset bubbles that his neoliberal economic advisors failed to prevent. Lichtenstein argues that the current economic structure in America is still shaped by Clinton's policies, characterized by low wages and international trade. However, he notes that the current White House is making more vigorous efforts to revitalize and regulate the economy [fd7704ea].